March 20 (Reuters) - Traders of short-term interest-rate contracts on Friday priced in a better-than-even chance of a Federal Reserve interest-rate hike in December, a dramatic shift from expectations earlier this week of a rate cut.

Spot gold fell over 1% to $4,582.55/oz; spot silver fell over 5% to $68.97/oz.

Gold, silver stocks and ETFs sank in morning trading. ProShares Ultra Silver fell 10%; Endeavour Silver, iShares Silver Trust, and Fortuna Silver Mines fell 5%; Hecla Mining, Kinross, ProShares Ultra Gold, and Gold Fields fell 4%; Barrick Mining, US Gold Corp., First Majestic Silver, Pan American Silver, Agnico Eagle Mines, Hycroft Mining, Newmont Mining, Eldorado, and Coeur Mining fell 3%.